Overview
A recurring charge is a charge schedule that automatically adds charges to a lease on the dates and frequency you choose. This way you don’t have to manually record repetitive charges for the same amounts.
Recurring charges are different from recurring rent charges in that they don’t show up as part of the rent amount on the Rent Roll report, nor do they show up as part of the “next rent” charge for your tenants in their tenant portals.
If you want a recurring charge to show up in those places, you should add it as a line item to a recurring rent charge.
The Steps
The first step to creating a recurring charge is to click Leases from the main menu and then click on Active Leases.
Find the lease you want to add a recurring charge for, and click on it. You can either sort the list by the various columns and filters or use the Search leases search bar.
Click on the Rent tab and then the Recurring Charge button.
Enter the following information:
Start date: set the date you want the recurring charge to begin.
End date: by default, the checkbox for Repeat until the end of the lease is checked, but you can deselect this to enter an end date for the recurring charge.
Frequency: set how often you want the charge to occur on the lease. For example, a monthly recurring charge will be posted every month on the same day of the month as the start date.
Account: choose the revenue account for the charge.
Description: enter an optional explanation for the charge. What you enter here is what the tenant will see on their lease ledger in the tenant portal. If you leave it blank, the tenant will just see the word “Charge.”
Amount: enter the amount for the recurring charge.
Add Line Item: use this link to add additional charge items if needed.
Add memo: add an optional note for your reference when reviewing the charge later. You will also see this in the “Memo” column in relevant reports.
Add any relevant files (optional) and click Save.
You’re finished! This new recurring charge will begin adding charges to the Transactions tab of the lease when it is scheduled to start. You can add as many recurring charges as you need. You can also edit recurring charges if necessary.
Note: Recurring charges do not show up as part of the "Your Next Payment" line on the tenant portal. Instead, it will show up as part of the Balance Due when the charge is posted to the lease. |